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Thursday’s Pre-Market: Here’s What You Need to Know Before the Market Opens

U.S. stock futures were trending lower on Thursday as market participants remained cautious after Asian equities fell for the fourth consecutive day. Equity markets were on the edge amid worries about the global economic recovery. Additionally, focus is on the release of key U.S retail sales data for August later in the day.

Dow futures were down 0.08%, S&P futures were down 0.13%, and Nasdaq futures were down 0.23% at the time of writing.

Kintara Therapeutics Inc. (KTRA) and TuanChe Ltd (TC) are to report their quarterly earnings before the market opens. PFSweb Inc. (PFSW) too is set to report its quarterly earnings during the day.

Leap Therapeutics Inc. (LPTX) was the most active stock in pre-market session with 6.13 million shares exchanging hands at the time of writing. The increased market activity comes on the company updating positive data from the DisTinGuish Study of DKN-01 plus Tislelizumab at the ESMO Congress.

Ion Geophysical Corp. (IO) was one of the biggest gainers in the pre-market session, jumping 23.33% at the time of writing. The spike comes after the company confirmed that the board was reviewing a range of strategic initiatives to strengthen its financial position and maximize shareholder value.

Aerie Pharmaceuticals (AERI) was the biggest loser in the pre-market session, down 19.11% at the time of writing. The sell-off comes despite the company announcing novel Dry Eye Product Candidate AR-15512 (TRPM8 Agonist) Ophthalmic solution achieved statistical significance over multiple symptoms and signs in successful phase 2b clinical study for the treatment of dry eye disease.

Meanwhile, Goldman Sachs Group, Inc. (GS) inked an all-stock deal to acquire GreenSky, Inc. (GSKY). The deal values the fintech platform for home improvement consumer loan originations at $2.24 billion. The acquisition should strengthen the global financial institution consumer banking unit. GreenSky is to join with over 100,000 merchants serving over 4 million customers since its inception.

Furthermore, Core & Main Inc. (CNM) inked a deal to acquire all assets of CES Industrial Piping. The financial terms of the deal have not been disclosed so far. The acquisition should help strengthen the company’s fusible HDPE business, given the wide range of products and services it offers.

Chevron Corp. (CVX) is to invest more than $10 billion until 2028 to grow lower carbon energy businesses in its portfolio. The investment is more than triple its previous guidance of $3 billion. Additionally, the company intends to increase daily renewable natural gas production and renewable fuels as it looks to lower carbon intensity from its operations.

AbCellera Biologics Inc. (ABCL) share jumped 7.1% after the biotechnology firm confirmed the signing of a multi-year multi-target research collaboration with Moderna. Under the terms of the agreement, Moderna (MRNA) is to use the company’s AI-enabled technology to search and analyze natural immune responses. In return, AbCellera is to receive research payments.

Ford Motor (F) has teamed up with Argo AI and Walmart (WMT) to launch a new autonomous delivery service. The service will allow customers in select destinations of Miami, Austin, Texas, and Washington to make grocery orders among other items on Walmart and have them delivered using autonomous cars.